A look back at last year reveals the problems of an economy that has undergone a series of unusually strong shocks in recent years. From the pandemic to the energy crisis. Unfortunately, the Czech Republic is the only EU country that has still not been able to cope with the negative effects of these shocks and where the performance of the economy has still not reached the level of the end of 2019. 
However, last year can also be seen as a turning point. The government was able to push through a consolidation package that should bring public finances significantly closer to a sustainable long-term position. In other words, the growth rate of government debt as a share of GDP should slow down significantly in the coming years. 

• Regulation on a Single Market for Digital Services

Last Thursday, AmCham Czechia, along with Brno University of Technology and CEITEC - Central European Institute of Technology, debated with Deputy Prime Minister for Digitization and Minister for Regional Development Ivan Bartoš how we can use this country's growing scientific and technological capability to address the single largest threat to our economies - climate change - and transform the economy at the same time. 

In today’s business world, where environmental, social and governance (ESG) factors play an increasingly important role, it is essential that companies understand the relevant legislation, fully engage in its compliance and adopt its principles. Sustainability, the proper care of people and honest management should be an integral part of every company’s business. The subsequently acquired transparency that the implementation of these factors brings can be an important feature of the company on the market. ESG is now one of the biggest challenges in the business world.